A hobo nickel is a form of folk art created by hand-carving or altering the design on a small-denomination coin, most commonly a United States Buffalo nickel issued between 1913 and 1938.
- Origins: This practice became especially popular in the United States during the Great Depression (beginning in 1929), when many unemployed and transient individuals known as “hobos” traveled the country, often by freight train, in search of work.
- Creative Outlet: Carving coins became a way for these individuals to pass the time and express their creativity and humor.
- Barter and Survival: These altered coins were not only artistic expressions but also a practical means of survival. A well-carved hobo nickel could be traded for essentials like food, shelter, or even a safe place to sleep.
- Choosing the Buffalo Nickel: The Buffalo nickel was a favored choice because of its large surface area, thick profile, and relatively soft composition (75% copper and 25% nickel), making it easier to carve compared to other denominations.
- Carving, Not Engraving: Hobo nickels are carved rather than engraved, meaning artists slowly remove bits of metal to create a bas-relief sculpture, giving the design texture and depth.
- Traditional Tools: Early artists typically used simple tools like pocket knives, nails, and files to meticulously carve their designs.
- Transformation of the Design: The original coin design, particularly the Native American profile on the Buffalo nickel, was transformed into new images. Common subjects included bearded men, clowns, soldiers, self-portraits, and even various animals on the reverse.
- A Valued Art Form: Today, hobo nickels are cherished collectibles and considered a significant aspect of American folk art.
- Value and Rarity: The value of hobo nickels varies significantly based on factors such as the artist, artistic quality, subject matter, and condition of the carving.
- Collectability: Original hobo nickels from the early 20th century are highly sought after by collectors, with some commanding thousands of dollars at auction.
- Modern Artists: A new generation of artists continues the tradition of carving hobo nickels, often utilizing modern tools and techniques while maintaining the spirit of the original art form.
- Legal Status: While defacing currency currently in circulation is illegal, altering Buffalo nickels is permissible as they are no longer minted and have become collectible art rather than legal tender.
Are hobo coins worth anything?
Are Hobo Coins Valuable, Then? Commonly found during the Depression era, genuine hobo nickels are relatively rare finds today and are highly sought by some collectors. Some original hobo nickels sell in the 100-300-dollar range, but others have brought as much as $24,000.
Are hobo coins illegal?
From there Bo produced many of his best works as he traveled, well into the 1980s. It’s illegal to deface currency that’s currently in circulation. However, due to the nature of the Buffalo nickel, its history, and its obsolete status, it’s legal to alter them and continue the craft of Hobo nickels.
Why is it called a hobo coin?
Because of its low cost and its portability, this medium was particularly popular among hobos, hence the name.
What is a hobo dollar coin?
Hobo Coins are die-struck coins that reimagine classic US coins with new designs.